LSV Asset Management Raises Stock Position in Cabot Corporation (NYSE:CBT)

Key Points

• LSV Asset Management has significantly increased its stake in Cabot Corporation, boosting its ownership by 318% to approximately 571,034 shares valued at $47.5 million.
• Several other institutional investors, including Norges Bank and Millennium Management LLC, have also made notable adjustments to their positions in Cabot, indicating increased interest from major players.
• Cabot recently announced a quarterly dividend of $0.45, with an annualized yield of 2.4%, reflecting financial stability in the company's operations.

LSV Asset Management grew its position in Cabot Corporation (NYSE:CBT - Free Report) by 318.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 571,034 shares of the specialty chemicals company's stock after acquiring an additional 434,434 shares during the quarter. LSV Asset Management owned 1.05% of Cabot worth $47,476,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Cabot in the 1st quarter valued at about $43,000. CWM LLC boosted its stake in Cabot by 55.0% in the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock valued at $50,000 after purchasing an additional 213 shares during the period. Curat Global LLC acquired a new position in shares of Cabot during the 1st quarter worth approximately $83,000. Farther Finance Advisors LLC increased its position in shares of Cabot by 1,346.4% in the first quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company's stock worth $136,000 after purchasing an additional 1,508 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Cabot by 26.1% during the first quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock worth $141,000 after purchasing an additional 352 shares during the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Cabot Stock Performance

Cabot stock traded down $0.18 during mid-day trading on Thursday, reaching $77.66. 276,240 shares of the company traded hands, compared to its average volume of 430,313. Cabot Corporation has a fifty-two week low of $70.40 and a fifty-two week high of $117.46. The firm's fifty day moving average is $75.86 and its two-hundred day moving average is $79.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.30. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 10.15 and a beta of 0.87.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. Cabot had a return on equity of 25.68% and a net margin of 11.14%. The firm had revenue of $923.00 million during the quarter, compared to analyst estimates of $957.29 million. On average, equities research analysts expect that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Cabot's dividend payout ratio (DPR) is presently 23.53%.

Analysts Set New Price Targets

Several analysts recently commented on CBT shares. UBS Group set a $82.00 target price on Cabot and gave the company a "neutral" rating in a report on Tuesday. Wall Street Zen lowered shares of Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th.

Cabot Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.